
Markets in Focus :: Cyber Q2 2024
May 21, 2024
The cyber insurance market remains stable, with ample capacity and favorable reinsurance renewals in January. The cyber risk landscape is shifting from ransomware to privacy events and litigation. Class action lawsuits alleging improper collection and sharing of personal information have increased, particularly in the healthcare sector. Insurers are closely monitoring these developments as the number of losses could impact their profitability. Some insurers are using exclusions related to data collection to avoid covering settlements and defense costs.
This edition covers:
- Market Stability and Capacity
- Pricing and Premium
- Outlook
- Coverage and Underwriting Standards
- Evolving Cyber Risk Environment
Learn more in the latest Markets in Focus :: Cyber report.
The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.
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